Automatic Data Processing (NASDAQ:ADP) Price Target Raised to $305.00 at Jefferies Financial Group

Automatic Data Processing (NASDAQ:ADP) had its target price boosted by Jefferies Financial Group from $290.00 to $305.00 in a research report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the business services provider’s stock.

Several other research analysts also recently commented on the company. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada boosted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $291.27.

Automatic Data Processing Stock Up 0.9 %

NASDAQ:ADP opened at $303.26 on Thursday. The company’s 50 day moving average is $297.23 and its two-hundred day moving average is $283.77. The company has a market cap of $123.57 billion, a PE ratio of 31.62, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing has a twelve month low of $231.27 and a twelve month high of $311.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 81.85%. Analysts anticipate that Automatic Data Processing will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the third quarter worth $26,000. Dunhill Financial LLC raised its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the third quarter worth $35,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.